Komori
Tokyo Electron Device Limited (2760) · TargetVISION2030 ROE and equity ratio targets not achievedLatest Earnings (2026-10-28): "Worsened"

Medium-Term ROE of 10% and Improvements in the D/E Ratio and Equity Ratio

First written in FY2017. 12 of 33 entries say "Advanced", first in FY2019-Q1. Latest entry: 2026-10-28.

33entries
10years
1from disclosures
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How it moved
ProgressHeldSoftenedWorseAdvancedFY2023 – FY20252017: 320172018: 420182019: 420192020: 420202021: 420212022: 420222023: 420232024: 320242025: 120252026: 22026
Same theme, other companies
Capital Management Based on Net Interest-Bearing Debt and Equity Efficiency MetricsA theme 35 companies write about · 1 as a headwind · 31 as a tailwind

Tokyo Electron Device Limited moved to the "Worse" side of this theme in 2026, 5 years after the typical company in this theme (2021).

The whole theme swung hardest in 2017: 3 of 15 companies on the "Worse" side.

2 other companies' latest entry also says "Worsened".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 35 companies compared. The sentences above are computed from all 35.
Full recordFilings, disclosures and news, newest first
  1. 2026-10-28WorsenedEarnings

    「自己資本比率は29.4％となり、前連結会計年度末に比べ3.1ポイント低下いたしました。」

    自己資本比率が2026年3月期の32.6％から29.4％へ低下し、自己資本比率40％以上の目標との差が拡大した。
  2. FY2026VISION2030 ROE and equity ratio targets not achievedAnnual report

    「The Company will also seek to improve financial soundness by targeting an equity ratio of at least 40% and ROE of at least 20% while maintaining an appropriate inventory level.」

    VISION2030 continues to target an equity ratio of at least 40% and ROE of at least 20%, but actual results for the fiscal year ending March 2026 were an equity ratio of 32.6% and ROE of 15.6%, below the target levels.
  3. FY2025AchievedAnnual report

    「Under this medium-term management plan, the Company achieved the target figures in the financial model initially established below for 3 consecutive fiscal years, from the fiscal year ended March 2023 through the fiscal year ending March 2025.」

    The Company stated that it achieved the initial VISION2025 financial model targets, including revenue, ordinary profit margin and ROE, for 3 consecutive fiscal years from the fiscal year ended March 2023 through the fiscal year ending March 2025.
  4. FY2025-H1AdvancedAnnual report

    「Net assets amounted to ¥47,870 million, an increase of ¥1,680 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 28.5%, up 0.7 percentage points from the end of the previous consolidated fiscal year.」

    Under the policy of improving financial soundness, the equity ratio improved by 0.7 percentage points from 27.7% at the end of the previous consolidated fiscal year to 28.5%.
  5. FY2024RaisedAnnual report

    「The Company will also seek to improve financial soundness by targeting an equity ratio of at least 40% and ROE of at least 20% while maintaining an appropriate inventory level.」

    In addition to ROE of at least 20%, the Company explicitly set an equity ratio of at least 40% as a target and identified maintaining an appropriate inventory level as a means of improving financial soundness. For FY2024, the equity ratio was 27.7% and ROE was 25.1%.
  6. FY2024-Q3AdvancedAnnual report

    「Net assets amounted to ¥42,954 million, an increase of ¥3,957 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 26.9%, up 0.5 percentage points from the end of the previous consolidated fiscal year.」

    Under the policy of improving financial soundness, the equity ratio improved by 0.5 percentage points from 26.4% at the end of the previous consolidated fiscal year to 26.9%.
  7. FY2024-Q2AdvancedAnnual report

    「Net assets amounted to ¥42,392 million, an increase of ¥3,395 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 28.2%, up 1.8 percentage points from the end of the previous consolidated fiscal year.」

    The equity ratio improved by 1.8 percentage points from 26.4% at the end of the previous consolidated fiscal year to 28.2%. The quarter's progress under the policy of improving financial soundness is reflected in the figures.
  8. FY2024-Q1AdvancedAnnual report

    「Net assets amounted to ¥39,542 million, an increase of ¥545 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 27.2%, up 0.8 percentage points from the end of the previous consolidated fiscal year.」

    The equity ratio improved by 0.8 percentage points from 26.4% at the end of the previous consolidated fiscal year to 27.2%.
  9. FY2023RaisedAnnual report

    「(ROE) The medium-term target is to achieve ROE of at least 15%, a measure of capital efficiency. …Fiscal year ended March 2023 26.1%」

    ROE was 26.1%, exceeding the previous medium-term target of at least 15%. In addition, the latest VISION2025 outlook sets a target of ROE of at least 20%, raising the target level.
  10. FY2023-Q3Sharp Decline in the Equity RatioAnnual report

    「The equity ratio was 24.1%, down 4.6 percentage points from the end of the previous consolidated fiscal year.」

    While net assets increased, the equity ratio declined by 4.6 percentage points from 28.7% at the end of the previous fiscal year to 24.1%.
  11. FY2023-Q2Continued decline in the equity ratioAnnual report

    「Net assets amounted to ¥35,606 million, an increase of ¥3,588 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 26.5%, down 2.2 percentage points from the end of the previous consolidated fiscal year.」

    While net assets increased, the equity ratio declined by 2.2 percentage points from 28.7% at the end of the previous fiscal year to 26.5%.
  12. FY2023-Q1Decline in the Equity RatioAnnual report

    「Net assets amounted to ¥32,924 million, an increase of ¥906 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 27.3%, down 1.4 percentage points from the end of the previous consolidated fiscal year.」

    While net assets increased, the equity ratio declined by 1.4 percentage points from 28.7% at the end of the previous fiscal year to 27.3%.
  13. FY2022AdvancedAnnual report

    「The medium-term target is to achieve ROE of at least 15%, a measure of capital efficiency. Fiscal year ended March 2022 17.2%」

    ROE was 17.2%, exceeding the medium-term target of at least 15%. Meanwhile, the equity ratio declined by 3.2 percentage points from 31.9% at the end of the previous fiscal year to 28.7%, showing that the indicators of financial soundness did not move in the same direction.
  14. FY2022-Q3Equity ratio declined to 28.6%Annual report

    「Net assets amounted to ¥30,767 million, an increase of ¥1,115 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 28.6%, down 3.2 percentage points from the end of the previous consolidated fiscal year.」

    While net assets increased, the equity ratio declined by 3.2 percentage points from 31.9% at the end of the previous consolidated fiscal year to 28.6%.
  15. FY2022-Q2Equity ratio trends at 32.0%Annual report

    「Net assets amounted to ¥30,515 million, an increase of ¥862 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 32.0%, up 0.1 percentage points from the end of the previous consolidated fiscal year.」

    Under the policy of improving financial soundness, the equity ratio improved by 0.1 percentage points from 31.9% at the end of the previous consolidated fiscal year to 32.0%.
  16. FY2022-Q1AdvancedAnnual report

    「Net assets amounted to ¥30,965 million, an increase of ¥1,313 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 34.0%, up 2.1 percentage points from the end of the previous consolidated fiscal year.」

    Under the policy of improving financial soundness, the equity ratio improved by 2.1 percentage points from 31.9% at the end of the previous fiscal year to 34.0%.
  17. FY2021RaisedAnnual report

    「(ROE) The medium-term target is to achieve ROE of at least 15%, a measure of capital efficiency.」

    The medium-term ROE target was raised in wording from 15% to at least 15%. ROE for the fiscal year ended March 2021 was 11.4%.
  18. FY2021-Q3Further decline in equity ratioAnnual report

    「Net assets amounted to ¥28,036 million, an increase of ¥895 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 32.0%, down 2.6 percentage points from the end of the previous consolidated fiscal year.」

    While net assets increased, the equity ratio declined by 2.6 percentage points from 34.6% at the end of the previous fiscal year to 32.0%.
  19. FY2021-Q2Decline in the Equity RatioAnnual report

    「Net assets amounted to ¥27,463 million, an increase of ¥322 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 33.1%, down 1.5 percentage points from the end of the previous consolidated fiscal year.」

    While net assets increased, the equity ratio declined by 1.5 percentage points from 34.6% at the end of the previous fiscal year to 33.1%.
  20. FY2021-Q1Equity ratio declined by 0.8 percentage points from the end of the previous fiscal yearAnnual report

    「Net assets amounted to ¥27,015 million, a decrease of ¥125 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 33.8%, down 0.8 percentage points from the end of the previous consolidated fiscal year.」

    Despite the continued policy of improving financial soundness, the equity ratio declined from 34.6% at the end of the previous fiscal year to 33.8%.
  21. FY2020AdvancedAnnual report

    「Revenue for the consolidated fiscal year declined 4.0% year on year, as weakness continued mainly in the manufacturing sector against the backdrop of prolonged US-China trade friction and slowing growth in China, demand for semiconductors remained generally low, and there were changes to the schedule for the planned transfer of commercial rights. However, ordinary profit increased 16.1% year on year, reflecting strong sales of network and storage equipment by the computer systems-related business to data center operators, telecommunications carriers and manufacturers, as well as steady performance in various maintenance services.」

    As a measure of financial soundness, the equity ratio improved by 1.7 percentage points from 32.9% at the end of the previous fiscal year to 34.6%. ROE was 8.8%, below the medium-term target of 15%.
  22. FY2020-Q3AdvancedAnnual report

    「Net assets were ¥26,910 million, an increase of ¥500 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 33.5%, up 0.6 percentage points from the end of the previous consolidated fiscal year.」

    Under the policy of improving financial soundness, the equity ratio improved by 0.6 percentage points, from 32.9% at the end of the previous consolidated fiscal year to 33.5%.
  23. FY2020-Q2AdvancedAnnual report

    「Net assets were ¥26,746 million, an increase of ¥336 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 33.9%, up 1.0 percentage points from the end of the previous consolidated fiscal year.」

    Under the policy of improving financial soundness, the equity ratio improved by 1.0 percentage points, from 32.9% at the end of the previous consolidated fiscal year to 33.9%.
  24. FY2020-Q1AdvancedAnnual report

    「Net assets were ¥26,296 million, a decrease of ¥114 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 33.5%, up 0.5 percentage points from the end of the previous consolidated fiscal year.」

    Under the policy of improving financial soundness, the equity ratio improved by 0.5 percentage points, from 32.9% at the end of the previous consolidated fiscal year to 33.5%.
  25. FY2019RestatedAnnual report

    「(ROE) We will aim for medium-term ROE of 15%, an indicator of capital efficiency.」

    The medium-term ROE target remains 15%. ROE for the fiscal year ended March 2019 was 9.5%, and the equity ratio was 32.9%.
  26. FY2019-Q3AdvancedAnnual report

    「Net assets were ¥25,387 million, an increase of ¥986 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 30.5%, up 3.0 percentage points from the end of the previous consolidated fiscal year.」

    Under the medium-term ROE target of 10%, raised to 15% in FY2019-Q2, and the policy of improving financial soundness, the equity ratio improved by 3.0 percentage points, from 27.6% at the end of the previous fiscal year to 30.5%.
  27. FY2019-Q2RaisedAnnual report

    「The medium-term management plan newly added ordinary profit margin as an indicator and raised the initial ROE outlook by 5 percentage points to 15%.」

    The ROE outlook under VISION2020 was raised by 5 percentage points, from 10% to 15%, and ordinary profit margin of 3.5% or higher was added as a new indicator.
  28. FY2019-Q1AdvancedAnnual report

    「Net assets were ¥24,419 million, an increase of ¥18 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 31.6%, up 4.0 percentage points from the end of the previous consolidated fiscal year.」

    The policy of maintaining a medium-term ROE target of 10% and improving financial soundness remains unchanged. The equity ratio improved by 4.0 percentage points, from 27.6% at the end of the previous consolidated fiscal year to 31.6%.
  29. FY2018Year-on-year decline in the equity ratioAnnual report

    「Equity ratio (%) 41.5 32.8 34.5 31.1 27.6」

    While the medium-term ROE target of 10% was maintained, the equity ratio declined from 31.1% in the previous fiscal year to 27.6%.
  30. FY2018-Q3Further decline in equity ratioAnnual report

    「Net assets were ¥24,177 million, an increase of ¥1,249 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 26.7%, down 4.4 percentage points from the end of the previous consolidated fiscal year.」

    While net assets increased, the equity ratio was 26.7%, down 4.4 percentage points from the end of the previous consolidated fiscal year.
  31. FY2018-Q2Decline in the Equity RatioAnnual report

    「Net assets were ¥23,766 million, an increase of ¥838 million from the end of the previous consolidated fiscal year. As a result, the equity ratio was 28.3%, down 2.8 percentage points from the end of the previous consolidated fiscal year.」

    The wording of the targets for ROE of 10% and improvements in the debt-to-equity ratio and equity ratio is unchanged, but the equity ratio was 28.3%, down 2.8 percentage points from the end of the previous fiscal year.
  32. FY2018-Q1RestatedAnnual report

    「There were no material changes to, or newly established objective indicators for, the management policies, management strategies and other matters established by the Group, or the objective indicators used to assess progress toward management targets, during the first quarter of the current consolidated cumulative period.」

    The company has reconfirmed that there have been no significant changes or new targets regarding management objectives and objective indicators.
  33. FY2017First statedAnnual report

    「Regarding financial soundness, we will seek to improve the debt-to-equity ratio and equity ratio, while aiming for medium-term ROE of 10%, an indicator of capital efficiency.」

    A medium-term ROE target of 10% has been identified for the first time as a specific target for financial soundness and capital efficiency.
Moved together

"Expansion of products and maintenance capabilities in the data center, cloud, and security fields" moved the same way as this thread, in the same document, in 15 of its 33 moves.

1514111076★123456
  1. ★This thread
  2. 1Expansion of products and maintenance capabilities in the data center, cloud, and security fields15×
  3. 2Financing Through Internal Funds, Bank Borrowings and Trade Receivables Securitization, and Strengthening Financial Soundness14×
  4. 3Recovery in performance driven by the semiconductor and electronic devices businesses11×
  5. 4Foreign Exchange and Interest Rate Fluctuation Risks and Hedging Measures10×
  6. 5Strengthening the proprietary inrevium brand through R&D investment and technology partnerships7×
  7. 6Expansion of High-Volume Contract Manufacturing Services through the Acquisition of 株式会社アバール長崎6×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Tokyo Electron Device Limited's next results are scheduled for 2026-10-28. Read the earnings preview It last moved in the Earnings of 2026-10-28: "Worsened".
News
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